IP3’s new enterprise Allied Nuclear made its media debut in Forbes on Aug. 7.
IP3’s founders formed Allied Nuclear because they saw a growing need to unlock the value of cooperation among U.S. and allied companies along the civilian nuclear supply chain.
Allied Nuclear helps IP3 separate their security business and creates a special purpose entity for companies to align their resources around specific nuclear energy projects. This ensures a private sector-led financing strategy and lays the groundwork for the formation of a fund to support infrastructure development programs.
In the Forbes interview, Allied Nuclear and IP3 CEO Michael Hewitt gave insights into nuclear energy development trends in the world market and recent pro-nuclear moves by the Administration:
“U.S. allies and developing countries want clean energy but they also want energy security; nuclear energy offers both,” Hewitt said. “But these countries are taken advantage of by China and Russia with all-encompassing and heavily-subsidized power plant offers that come with insidious ‘build-own-operate’ terms and predatory financing.”
Hewitt said Allied Nuclear has developed an approach that allows the U.S. and its allies to compete against adversary state-owned competitors by leading with the strengths of the U.S. industry while addressing the disadvantages of other vendors in the nuclear energy supply chain.
Hewitt said his company wants to help global allies “stay clear of ‘debt traps’ and national security risks posed by China’s Belt and Road Initiative investments.”
“Infrastructure development and energy security should not come at the expense of a country’s national sovereignty or financial interest,” Hewitt said.